OPEC successfully raised the world price of oil in the 1970s and early 1980s, primarily due to
A.
an inelastic demand for oil and a reduction in the amount of oil supplied.
B.
a reduction in the amount of oil supplied and a world-wide oil embargo.
C.
a world-wide oil embargo and an elastic demand for oil.
D.
a reduction in the amount of oil supplied and an elastic demand for oil.